The housing market is showing signs of robust activity as we kick off the spring season. With property prices experiencing the largest monthly increase in 10 months, it's clear that sellers are feeling optimistic about their prospects. Prices of properties coming to market have risen by 1.5% on average nationally, to £368,118 – considerably higher than the usual March rise of 1.0% This uptick in prices reflects a surge in both buyer demand and sales agreements compared to the same time last year.

March typically heralds a flurry of activity in the housing market, as both buyers and sellers gear up for the spring selling season. Buyer demand is up by 8% compared to the same time last year, while the number of sales agreed is 13% higher, indicating a newfound confidence among sellers. While this optimism is encouraging, it's essential for sellers to remain realistic about pricing, especially in light of higher mortgage rates and stretched affordability.

Buyers, on the other hand, are taking a cautious approach, carefully weighing their options amidst market uncertainties. Despite increased activity, homes are staying on the market for longer periods, emphasizing the importance of strategic pricing and patience.

Looking ahead, the housing market remains subject to various factors, including economic news and surprises. While the initial post-Spring Budget pause in activity caused a stir, the overall outlook remains positive. Sellers should maintain a balanced approach, staying attuned to market dynamics and remaining open to negotiation.

The current housing market presents opportunities for both buyers and sellers. As we navigate the evolving landscape, it's crucial for all parties involved to approach transactions with a blend of optimism and caution, ensuring a mutually beneficial outcome in the dynamic spring market.

If you are interested in knowing the current value of your home this spring please call us at any of out branches.

Sourced from Rightmove